It’s been several months since the announcement of Wella’s merger with Coty, one of the world’s leading beauty companies. The merger, one of the largest in beauty in years, will expand Coty’s role in the beauty market and give the company access to the attractive salon and hair category.
In November, Coty named Wella’s current global leader Sylvie Moreau as the future President of the Coty Professional Beauty division, which will consist of both P&G’s Wella and Coty’s OPI nail business. We caught up with Sylvie for the latest news on the merger.
Sylvie, what’s happening on the merger from Wella’s perspective?
“The merger is progressing well and is on schedule to be completed in the second half of 2016. As far as our future Coty Professional Beauty organization is concerned, we have finalized the future Global Leadership team and are in the process of confirming the country General Managers. Coty places great value on Wella talent, on our capabilities and our achievements, so you will see a lot of continuity of assignments. This is true for the future leadership and most importantly for the country teams, especially in our sales and education teams. At the same time, a few of our leaders will move to other parts of the Coty business, enriching their talent pool. We will also benefit from some fresh talent and beauty expertise from Coty. Altogether, the future Global Leadership Team will consist of the president and twelve senior executives, who will lead the business across three regions and nine global functions. Most of them are already a part of the Wella family, either on the current Global team or in the markets.“
What support can stylists expect from the future “parent” of the Wella family?
“Coty has a clear commitment to the salon industry, to Wella and to Wella’s talent and capabilities, which is reflected in the future structure, with a dedicated Professional Beauty division and the leadership appointments. Coty Professional Beauty’s focus will be to win with the salon professionals and salon owners we love and admire by becoming the most respected professional hair and nail company in the world. We will match their entrepreneurial spirit and put their unique needs, wants and personal dreams of success at the heart of our philosophy and be the best partner they could ask for. Our world-class education and salon programs will elevate the role that salon professionals and the professional channel itself play in the beauty industry and the communities in which they live and work.“
How do you and the Wella teams around the world feel about the merger?
“We are all very excited about this merger and the future of Wella within the Coty “family.” We are creating a new beauty company with a new culture and a passion for beauty. With Coty, we will be a part of a true beauty powerhouse and we have their full commitment to see Wella grow. For Coty, our salon business is a very exciting growth opportunity, because today they don’t play in the hair category and they have a limited presence in the large and attractive salon industry. For Wella and for our customers, this will bring some really interesting new opportunities. I’m eager to share more details once we become one company. In the meantime, we remain energized and committed to delivering the best for our stylists and the industry.“